Interestingly, at my Oscar shindig last night, this was the topic of the most contention last night(well, that and how much you'd want to date NPH. The room was pretty divided on delightful vs. exhausting). So I thought I'd put the question to you folks.
Basically the argument went like this: Glory is almost undeniably the better song, it clearly resonates very deeply with people emotionally and couldn't be more on point with the message the movie seems to have been getting across and was the work of two super-talented people who were very clearly invested in the work they were doing. It'll probably be a song I listen to many years from now.
However, Everything is Awesome actually was in the movie. It did a great job of establishing the world of the movie and it was impossible to leave the movie without that song stuck in your head. It was genuinely an integral part of the movie and that seems to be more of what the category should be about.
By contrast Glory added virtually nothing to my experience with Selma because it was played over the end credits and that's when me and the Professor argued about where we were going for a post-movie dinner(Spoiler Alert: Ramen).
That said, last night highlighted the flaws with both arguments. The performance of Glory was terrific, but not all that more emotionally moving than the performance of it at the Grammys. Removed from context, Everything is Awesome is really kind of dumb.
So how do people lean? Feel free to speak generally re: quality of song vs. how the movie uses the song if you like.